USD/CAD UPDATE 13/1/15 – 10:25:16

January 13, 2015 by

USDCAD has surged higher again this morning as oil prices continue to fall. This has seen new cycle highs achieved and leaves us directly bullish for the 1.2000 psychological barrier next. We must allow for an initial cap here, but expect an eventual extension above here to the 78.6% retracement of the 2009/2011 decline at 1.2280.